SoFi Technologies (NASDAQ:SOFI) Trading 0.5% Higher After Analyst Upgrade

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) was up 0.5% during mid-day trading on Tuesday after Mizuho raised their price target on the stock from $14.00 to $16.00. Mizuho currently has an outperform rating on the stock. SoFi Technologies traded as high as $14.06 and last traded at $14.00. Approximately 9,178,809 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 47,422,000 shares. The stock had previously closed at $13.93.

A number of other research analysts also recently issued reports on the company. Barclays boosted their price objective on SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th. The Goldman Sachs Group raised their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Needham & Company LLC boosted their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, Citigroup lowered shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $9.80.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 68,081 shares of the firm's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares of the company's stock, valued at $4,234,620.60. This trade represents a 11.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelli Keough sold 9,308 shares of the business's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the transaction, the executive vice president now owns 152,203 shares in the company, valued at approximately $1,576,823.08. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,636 shares of company stock worth $904,677 in the last quarter. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds have recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. bought a new stake in SoFi Technologies during the first quarter worth $79,000. Russell Investments Group Ltd. boosted its holdings in shares of SoFi Technologies by 341.0% in the 1st quarter. Russell Investments Group Ltd. now owns 43,624 shares of the company's stock worth $318,000 after buying an additional 33,732 shares during the last quarter. US Bancorp DE grew its position in SoFi Technologies by 203.5% during the first quarter. US Bancorp DE now owns 60,763 shares of the company's stock valued at $444,000 after buying an additional 40,743 shares during the period. Kingsview Wealth Management LLC bought a new stake in SoFi Technologies in the first quarter worth about $97,000. Finally, Vanguard Group Inc. boosted its stake in SoFi Technologies by 1.7% in the first quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company's stock valued at $604,632,000 after acquiring an additional 1,366,271 shares during the last quarter. Institutional investors own 38.43% of the company's stock.

SoFi Technologies Stock Up 3.5 %

The stock's 50-day moving average price is $9.98 and its two-hundred day moving average price is $8.05. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $15.65 billion, a P/E ratio of 144.21, a P/E/G ratio of 2.27 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. SoFi Technologies's revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.03) earnings per share. As a group, research analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

About SoFi Technologies

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.